The Authority says the penalties reflect the financial benefit gained from unlawful conduct and the harm to clients – handing 30-year debarments to several Banxso executives.
The FSCA has published the draft exemption for Microinsurers offering Credit Life from Rule 2A.10.1 of the Policyholder Protection Rules which states “A microinsurance policy or a funeral policy may not prescribe that a […]
The FSCA has published the draft exemption for Microinsurers offering Credit Life from Rule 2A.10.1 of the Policyholder Protection Rules which states “A microinsurance policy or a funeral policy may not prescribe that a […]
“Aside from the controversy it’s found itself in because of its involvement in spreading ‘fake news,’ Facebook is still possibly the most powerful social media platform on Earth”, Johnny Sandquist, owner of Three […]
Parties that are aggrieved by decisions of the Pension Funds Adjudicator may lodge appeals with the Financial Services Tribunal. The Financial Sector Regulation Act, 9 of 2017 (“FSR Act”) considers the Pension Funds […]
While the legislation that governs tax exemption for religious institutions is robust, enforcing compliance could be difficult, Louis Botha, an associate in Cliffe Dekker Hofmeyr’s (CDH’s) Tax & Exchange Control practice recently mentioned. […]
According to a global study of nearly 30 000 respondents by Accenture Strategy, 62 percent of consumers said they would pay more – or even accept a product of lower quality – should the […]
Background of the Tribunal The Financial Sector Regulation Act 9 of 2017 establishes the independent Financial Services Tribunal in terms of section 219 thereof. The Tribunal replaced the FSB Appeal Board and came […]
Background of the Tribunal The Financial Sector Regulation Act 9 of 2017 establishes the independent Financial Services Tribunal in terms of section 219 thereof. The Tribunal replaced the FSB Appeal Board and came […]
The unemployment rate increased from 27,6% in the first quarter of 2019 to 29,0% in the second quarter of 2019. This is as a result of an increase of 455 000 in the number […]
The unemployment rate increased from 27,6% in the first quarter of 2019 to 29,0% in the second quarter of 2019. This is as a result of an increase of 455 000 in the number […]
In 2018, 58% of complaints considered by the Ombud for Short Term Insurance (OSTI) under homeowner’s insurance related to claims for damage caused by acts of nature. These claims relate primarily to storm […]
In 2018, 58% of complaints considered by the Ombud for Short Term Insurance (OSTI) under homeowner’s insurance related to claims for damage caused by acts of nature. These claims relate primarily to storm […]
“Tracking trends provides valuable insights into the current and future financial services needs of our customers.” This is one of the objectives of the Old Mutual Savings & Investment Monitor, an annual study […]
Most South Africans can’t afford to retire. The fact is that the majority rely heavily on income from a salary because their pension income is insufficient to support them. According to the 2019 […]
South Africa’s equity market capitalisation equates to more than 200% of the country’s gross domestic product (GDP), the highest proportion in the world and a level that is simply not sustainable. This is […]
According to South Africa’s crime statistics, South Africa has a serious car hijacking problem. It was recently reported that a total of 16 325 cars were carjacked between 2017 and 2018 – a minimal […]
This week the Prudential Authority (PA) and the Financial Sector Conduct Authority (FSCA) jointly published a proposed Joint Standard on fit and proper requirements for significant owners of financial institutions in terms of […]
